I left university with a maths degree and started work as an student pensions actuary. It was a great first job. Although I didn't qualify, I made partner in a top actuarial firm. If you don't know what a pensions actuary does, read on to find out. If you are working as a pensions actuary already, then you'll find some job adverts that might interest you.
This lens is presented from a UK perspective, but the position in ithe other countries is similar.
What A Pensions Actuary Does
The common misperception is that an actuary is a back room technician whose life is surrounded by computers and calculations. While that can be the reality for students learning their trade, it certainly isn't typical for qualified pensions actuaries.Many pensions actuaries are consultants. With the increased importance of pension schemes on many companies' balance sheets, the pensions actuary is likely to be a key board-level business adviser.
Photograph from Wikimedia Commons under GNU Free Documentation License
Corporate Pensions Actuary
Some pension actuaries specialise in giving advice to coprorate clients. A few join large corporations, but most corporate specialists are employed by consultancies. Significant aspects of the role are neogoating controbutions with Trustees and their advisers; advising on how best to account for pension costs; and input into corporate transactions (the buying and selling of businesses). The work can be dynamic, pressured, demanding, exciting - but rarely boring.Photograph by Gary Zvonkovic under Creative Common Attribution License 2.0
Trustee Advice
Traditionally the main work of pension actuaries has been giving advice to trustees of pension schemes. In the UK, all defined benefit penson scheme are required by law to appoint a Scheme Actuary - a pensions actuary with specific experience.The core is the actuarial valuation - the process by which the liabilities of pension schemes are calculated and compared with the assets held. A contribution rate will be set from the mismatch, and the expected change in liabilities and assets over the coming three years (or sometimes one year).
Clients will need advice on this process and a range of other matters including changes in the economic outlook and compliance with law, along with many other matters and a range of subsidiary calculations. Investment advice is usually provided by specialists sometimes by the pensions actuary.
Photograph from stuckism.com via Wikimedia Commons under GNU Free Documentation License
Pensions Actuary Jobs on Twitter
Most tweets which mention "pension actuary" are job vacancies. Who'd have thought that Twitter is a great place to look for a job as a Pensions Actuary? The list below refreshes every hour. If you are job hunting, then I hope you find something that interests you.
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- UKJobTweets
- RT @KPMGRecruitmentYahoo::RSS::Type::DateTime=HASH(0x3015e00)New Job Alert: Consultant and Actuary - Leeds - Tax - Pensions & Reward ..
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- KPMGRecruitment
- New Job Alert: Consultant and Actuary - Leeds - Tax - Pensions & Reward - Click here for more info & to apply:- http://bit.ly/5zZxjZ #ukjobs
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- Jobs_Hampshire
- Featured Job: Part Qualified Pensions Actuary, Hampshire http://bit.ly/6op7uE #Jobs
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cH6a8
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cH6ao
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cH6ax
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cH6as
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- totalrewardsjob
- Part Qualified Pensions Actuary http://bit.ly/8yrfyW
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- ProPensions
- Part Qualified Pensions Actuary: £competitive: Edinburgh: This highly respected medium sized firm of actuaries an... http://bit.ly/4w5gEA
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrH
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrw
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrZ
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrN
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrM
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrx
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cDNrI
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cAFBV
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cAFBN
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cAFC0
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- Jobs_Hampshire
- Part Qualified Pensions Actuary, Hampshire http://ff.im/-cAFBT
automatically generated by Twitter
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